On June 28, Governor Ron DeSantis signed into law FAA priority legislation HB 7103, which will prevent local governments from imposing unfunded inclusionary zoning mandates and allow impact fee waivers for affordable housing development.
As a result of HB 7103 being signed into law, counties and municipalities with inclusionary zoning ordinances that require a developer to provide a certain number or percentage of affordable housing units must now provide incentives to fully offset all costs to the developer in exchange for the affordable housing contribution. Such incentives may include:
- Providing the developer density or intensity bonus incentives or more floor space.
- Reducing or waiving fees, such as impact fees or water and sewer charges.
It's no secret that the best way to encourage the construction of affordable apartment homes is to make it easier and less cost prohibitive for developers to build this type of housing that is desperately needed. The enactment of HB 7103 will do just that by requiring local governments to have some skin in the game and ensuring developers have access to the incentives they need to make affordable housing construction feasible. In the long term, this policy change will result in more effective policies and a higher number of affordable apartment homes across the state.
For more information regarding how HB 7103 will impact the multifamily industry, please click here to read FAA's official press release.
As we reflect on a successful 2019 session, I want to say thank you once again to the many members who took the time to advocate on behalf of HB 7103 and FAA's other legislative priorities. Your engagement and support was vital to getting this legislation across the finish line.
Government Affairs Director
Florida Apartment Association